https://www.taxtmi.com/manuals?id=1454 The statutory scheme allows the prescribed income-tax authority to impose a fixed penalty on persons required to furnish statements of financial transactions or reportable accounts for providing inaccurate information, failing to correct inaccuracies within the specified time, or not complying with prescribed due diligence; prescribed reporting financial institutions face an additional per-account charge where inaccuracies result from account-holders, and may recover or retain that sum from those holders. en-us Thu, 28 Jan 2016 17:35:00 +0530 Fri, 23 Aug 2024 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1454 The statutory scheme allows the prescribed income-tax authority to impose a fixed penalty on persons required to furnish statements of financial transactions or reportable accounts for providing inaccurate information, failing to correct inaccuracies within the specified time, or not complying with prescribed due diligence; prescribed reporting financial institutions face an additional per-account charge where inaccuracies result from account-holders, and may recover or retain that sum from those holders. Manuals Income Tax Thu, 28 Jan 2016 17:35:00 +0530 https://www.taxtmi.com/manuals?id=1454